HARTFORD INSURANCE GROUP INC

Reportable Segment And Corporate Operating Summaries

Business Insurance - Results of Operations

[1]For additional information on current accident year catastrophes and prior accident year development, see MD&A - Critical Accounting Estimates, Property and Casualty Insurance Product Reserves Development, Net of Reinsurance and Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

[3]Includes integration costs in connection with the 2019 acquisition of Navigators Group.

[4]For discussion of income taxes, see Note 12 - Income Taxes of Notes to Condensed Consolidated Financial Statements.

Premium Measures

[1]Except for net new business premium, metrics for middle market exclude loss sensitive and programs businesses.

[2]Excludes Global Re and is before ceded reinsurance.

[3]Excludes Global Re, offshore energy policies, credit and political risk insurance ("CPRI") policies, political violence and terrorism ("PV&T") policies, and any business under which the managing agent of our Lloyd's Syndicate delegates underwriting authority to coverholders and other third parties.

Underwriting Ratios

Net income decreased primarily due to a lower underwriting gain and a change to net realized losses in the 2025 period from net realized gains in the 2024 period, partially offset by higher net investment income. For further discussion of investment results, see MD&A - Investment Results.

Underwriting Gain

Underwriting gain declined due to higher CAY catastrophe losses, partially offset by the effect of earned premium growth and slightly higher favorable prior accident year development, including $8 of a greater benefit for amortization of the deferred gain on the Navigators ADC.

Expense ratio improved modestlyas the impact of higher earned premium was partially offset by a slightly higher commission ratio due to business mix.

[1]Other earned premiums of $15 and $16 for the three months ended March 31, 2024, and 2025, respectively.

Written Premiums

[1]Other written premiums of $14 and $16 for the three months ended March 31, 2024, and 2025, respectively.

Earned premiums increased due to written premium increases over the prior twelve months.

Written premiums increased driven by growth across small business, middle & large business and global specialty.

•Small business written premium increased driven by double-digit new business growth and renewal written price increases in almost all lines. Written premium grew in nearly all lines of business, including package business, excess and surplus and automobile.

•Middle & large business written premium increased driven by high single-digit new business growth and renewal written price increases in all lines. Written premium grew in nearly all lines across industry verticals, specialty markets, and large property.

•Global specialty written premium increased driven by written price increases across almost all lines as well as an increase in gross new business, primarily in U.S. excess casualty insurance lines. Written premiums also grew in global reinsurance, primarily in property, credit risk and casualty.

Renewal written price increases were recognized in most lines.

•In small business, renewal written price increases were higher than the prior year, with low double-digit price increases in package business and automobile and moderating high single-digit price increases in excess and surplus lines. Workers' compensation pricing was slightly negative.

•In middle market, renewal written price increases were consistent with prior year levels overall, with mid single-digit to low double-digit price increases in most lines. Liability pricing has accelerated and property pricing has moderated from 2024 levels. Workers’ compensation continued to be modestly positive.

•In global specialty, price increases were slightly higher than prior year levels with mid single-digit renewal written price increases overall, including high single to mid-teen increases in casualty and auto lines.

Underlying Loss and Loss Adjustment Expense Ratio

Underlying Loss and Loss Adjustment Expense Ratio increased slightly due to a higher general liability loss ratio, reflecting the increased severity trends observed primarily during the second half of 2024, partially offset by lower net non-catastrophe property losses.

Catastrophes and Unfavorable (Favorable) Prior Accident Year Development

Current accident year catastrophe losses for the three months ended March 31, 2025 included a loss of $207 from the January 2025 California Wildfire Event, as well as tornado, wind and hail events primarily in the South and Midwest regions.

Current accident year catastrophe losses for the three months ended March 31, 2024 included losses from winter storms, mainly in the Northeast, Pacific and South regions, as well as tornado, wind and hail events in the Midwest, South and mid-Atlantic regions.

Prior accident year development was net favorable for the three months ended March 31, 2025 and primarily included reserve decreases for workers' compensation. Also included is a benefit of $32 related to amortization of the Navigators ADC deferred gain. For additional information regarding the ADC reinsurance agreement, refer to Note 9 - Reserve for Unpaid Losses and Loss Adjustment Expenses of Notes to Condensed Consolidated Financial Statements.

Prior accident year development was net favorable for the three months ended March 31, 2024 and included reserve decreases for workers' compensation and uncollectible reinsurance, partially offset by reserve increases for general liability, assumed reinsurance and marine. Also included is a benefit of $24 related to amortization of the Navigators ADC deferred gain.